US Lodging Market Update: October 2021
By Hua Rong on 8/12/2021
October kicked off the fourth quarter with a reversal in the declining trend of weekly room night demand as Occupancy reached 62.9%, which was 97% of the average weekly demand in 2019.
After hitting a peak in July, weekly room night demand slipped for two consecutive months. While we anticipated that 2021 would see a recovery trend compared to 2020, the US lodging market’s performance has exceeded expectations.
Although the Group segment has not yet recovered to 2019 levels, October saw the Group segment hold 27% of total demand for the month. Overall, the industry is heading into the 2022 budget season with eyes set on the performance displayed year-to-date.
About the author
Hua Rong
Hua Rong is a Director with Horwath HTL. She has extensive work experience in the global hospitality industry, specializing in the review of management and franchise agreements, lodging portfolio analysis, strategic planning, acquisition due diligence, operations audits, market studies, and cross-border investments. Hua has been involved in projects across all industry segments, including special assignments such as trophy hotel assets, destination master planning, mixed-use developments, casinos, golf resorts, budget hotels, and sporting clubs. Hua is also a columnist to various hospitality media platform and publishes content in both English and Mandarin Chinese. Hua obtained her Master of Science in Professional Accountancy from the University College of London and graduated Summa Cum Laude from the Chaplin School of Hospitality Management at Florida International University with a Bachelor of Science in Hospitality and Tourism Management. Hua is a member of the Association of Chartered Certified Accountants (ACCA) and a Charted Financial Analyst (CFA) Charterholder. She is an avid traveler and a voracious reader with a passion for the hospitality industry.